I finally received my LaCie external FW drive today and would like to know the correct proceedure on how to move my entire iTunes/Library to the external drive and free up the space on the main HD without any data lose, etc.

I saw this on Macworld. Copy your iTunes folder onto the Lacie drive and follow the steps below.

Quote:

1. Back up everything before doing this.
2. Export your current library. File > Export Library. This saves all the playlists, ratings, etc. as an XML file.
3. Quit iTunes
4. Got to your home > Music > iTunes and drag the iTunes folder to the trash. (You don't need to empty the trash, so you can always drag it back out if you need to restore.)
5. Launch iTunes. You will have an empty library and no play list.
6. Go to the advanced tab in the preferences (in the iTunes menu), and choose the new location for your music folder. Also check "Copy music to iTunes Music folder when adding to library."
7. Got to File > Open, and select your old music file. This will import all of the new music into your new music file and into your library.
8. File > Import. Select the library XML file you Exported in step 2. This will restore your play lists, ratings, etc. (Note, if any of the songs in your old music folder are not in your current music folder, they will not show up in the play lists.
9. After making sure everything is working, trash your old music folder.